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N+1 Mercapital exits Clece Group for 22% annual return

21 Aug 2014

clecePrivate equity firm N+1 Mercapital has exited its 25 per cent stake in Spanish services supply company Clece Group to ACS Group.

The exit generated a gain of €49m and an annual return of 22 per cent.

Since receiving an investment from Mercapital two years ago, the company has seen its revenues climb 14 per cent to over €1.2bn.

Clece provides services for companies including cleaning, maintenance, catering and social services.

Earlier this year Mercapital hired Gonzalo de Rivera as its new CEO.

He replaced Javier Loizaga, who stepped down in November following a fundraising dispute with its partners.


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